Online Broadcasting Reaching Critical Mass
Online Broadcasting Reaching Critical Mass
January 30, 2008: In the wake of the Bulletin’s demise the Australian Information Indusrty Association (AIIA) is highlighting the increasingly pervasive power of online communications, saying that the steady rise of electronic broadcasting has now reached critical mass.
According to AIIA CEO Sheryle Moon, the closure of the Bulletin, Australia’s oldest print news magazine, last week underscores the power of paperless communication in the marketplace.
“Today’s consumers expect to receive information immediately. Instant news is no longer a novelty, it’s the minimum standard in an information economy,” said Moon.
Of course the Bulletin reaching the end of its print life is not the only example 2008 has thrown up so far to show consumer demand for on-demand news and current affairs. Moon adds that last week’s share market correction was a first for Generation Y investors, and one that saw them dive for analysis straight away instead of waiting for newspapers the following day.
“Investors watched their plunging investments in real time on the internet, and then turned to blogs, forums and chat rooms for analysis and advice,” said Moon.
Moon says that the unfortunate death of Heath Ledger also demonstrated the enormous appetite consumers have for breaking news, and the impossible task faced by paper media in attempting to keep up. Crikey.com.au went so far as to publish a timeline of online media reports surrounding Ledger’s death that illustrates world-wide media saturation within hours of the announcement.
“A new beast is making its presence felt – ‘the Info-vore’ – and its hunger for information knows no bounds. It is proof we want information saturation, and that information overload will not be a problem in the new world order,” said Moon.
“Even for the most respected commentators, the opportunity to provide printed analysis on a weekly, or even daily, basis is passing. The closing of the Bulletin reflects the information standards of a new generation.”
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